194 Rainbow Ln, Hiram, GA 30141
3 beds · 2 baths · 1,200 sqft sqft
Back On Market! Buyer backed out at no fault of seller one day before closing. Seller offering $5,000 in closing costs plus a home warranty.Welcome to your beautifully renovated split-level home nestled on a private cul-de-sac in a quiet neighborhood with no HOA! This stunning 3-bedroom, 2-bathroom residence has been thoughtfully updated to create a modern and inviting space. As you enter, youCOll be greeted by fresh, vibrant paint that enhances the airy feel of the main level, adorned with durable luxury vinyl plank flooring that seamlessly blends style and practicality. The spacious living area is perfect for gatherings, leading into a bright and open kitchen that boasts all-new granite countertops and sleek appliances. The elegant new light fixtures throughout the home provide a warm ambiance, adding to the inviting atmosphere. Venture upstairs to discover cozy new carpeting in the bedrooms, providing a soft retreat for rest and relaxation. Both bathrooms have been upgraded with exquisite granite finishes, offering a touch of luxury for your daily routines. Outside, the property has been enhanced with newly painted front porch and back deck. The septic tank has been recently serviced to ensuring everything is in great working condition. The yard has been opened up with the removal of trees and limbs, creating a more spacious and inviting outdoor area. A special rear driveway provides convenient access, making it easy to come and go. With new garage doors and openers, as well as a brand-new water heater, this home is not only beautiful but also move-in ready. DonCOt miss your chance to make this charming Thornbrooke II property your own! Listing agent, Matthew Martin, is managing member of LLC which owns this property.
Source: GAMLS #10386217
Interest rate and monthly payment estimated based on public records.
Source: GAMLS #10386217
Source: Public records
Assuming a mortgage can seem complex and unfamiliar. We simplify the process by providing white-glove support and expertise at every step.
Whether you have an agent or you’re just starting your search, reach out to us and we’ll help set up a home tour.
Roam works with you, your agent, and the listing agent to prepare a mortgage assumption agreement and finalize all details.
Roam coordinates all parts of the transaction and keeps all parties up to date to provide a seamless 45-day close.
To qualify, you must meet the current FHA, VA, or USDA loan requirements depending on the type of loan you are assuming. This typically means a minimum credit score of 580, although most lenders prefer 620-640. Your debt-to-income ratio should be under the 50% max under FHA guidelines. Additional information such as employment history, explanations of income for each applicant, and asset verification for a down payment may be needed to process the loan.
What is Roam?
Roam is your trusted partner for affordable home ownership. We help manage the assumption process from start to finish, enabling homebuyers to easily purchase their next home with a low-interest rate mortgage attached.
What is an assumable mortgage?
An assumable mortgage is a type of home loan that allows a homebuyer to take over the existing mortgage terms from the seller, with no cost to the seller. Many government-backed loans, such as FHA and VA loans, are eligible for assumption, and millions of these mortgages are available.
Why is an assumable mortgage valuable?
When interest rates on mortgages are high, assuming a mortgage with a rate as low as 2% allows buyers to save up to thousands monthly compared to buying a home with a traditional mortgage at today’s average rates of 7%. A low-rate assumable mortgage could be the key to finding your dream home at an affordable price.
How can you find assumable mortgage listings?
Roam has compiled available listings with low-rate assumable mortgages for you to browse. To get started, enter the city, state, zip code, or school district you’re interested in purchasing in. Utilize the search filters to narrow down your search. Click “Get Notified” to save your search preferences and activate listing notifications—we’ll email you as soon as new listings match your criteria.
Once you’ve found your dream home and ready to make an offer, schedule a call with a Roam Advisor directly from the listing. Your Roam Advisor will guide you through each step of the process, while also working directly with your agent, the servicer, and the seller to ensure you close on time.
How do I qualify for an assumable mortgage?
To qualify, you must meet the current FHA, VA, or USDA loan requirements depending on the type of loan you are assuming. This typically means a minimum credit score of 580, although most lenders prefer 620-640. Your debt-to-income ratio should be under the 50% max under FHA guidelines. Additional information such as employment history, explanations of income for each applicant, and asset verification for a down payment may be needed to process the loan.
MLS ID: #10386217
Roam is committed to and abides by the Fair Housing Act of Equal Opportunity Act.